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Top federal agencies in the United States are teaming up to revise the meaning of “money” to tighten reporting requirements on financial institutions for domestic and cross-border cryptocurrency transactions. The US Department of the Treasury (DOT) issued a semiannual regulatory agenda on Aug. 16, revealing an upcoming federal attempt to level the regulatory playing field for cryptocurrencies and traditional fiat currency. The Board of Governors of the Federal Reserve System (FRS) and the Financial Crimes Enforcement Network (FinCEN) plan to revise the meaning of “money” used in the Bank Secre…

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